|                                           |         |           |               |       |                |  |                         |  |                 |  |           |  |  |  |                | 
|------------------------------------------ | ------- | --------- | ------------- | ----- | -------------- |  | ----------------------- |  | --------------- |  | --------- |  |  |  | -------------- | 
|                                           |         |           |               |       |                |  |                         |  |                 |  |           |  |  |  |                | 
|                                           |         |           |               |       |               
|CDC Mortgage Capital Trust Series 2003-HE2
|                                           |         |           |               |       |                |  |                         |  |                 |  |           |  |  |  |                | 
|2003 Annual Statement                     
|                                           |         |           |               |       |                |  |                         |  |                 |  |           |  |  |  |                | 
|                                           |         |           |               |       |                |  | DISTRIBUTION IN DOLLARS |  |                 |  |           |  | 
|                                           |         |           |               |       |                |  |                         |  |                 |  |           |  |  |  | ENDING BALANCE | 
|PERIOD                                     |         | CLASS     |               | CUSIP |                |  | INTEREST                |  |                 |  | PRINCIPAL |  | 
|200306                                     | A       | 12506YBD0 | $697,732.68   |       | $3,002,624.56  |  | $554,069,375.44         | 
|200307                                     | A       | 12506YBD0 | $639,488.40   |       | $5,751,071.11  |  | $548,318,304.33         | 
|200308                                     | A       | 12506YBD0 | $684,636.33   |       | $7,417,078.36  |  | $540,901,225.97         | 
|200309                                     | A       | 12506YBD0 | $680,033.04   |       | $12,237,945.70 |  | $528,663,280.27         | 
|200310                                     | A       | 12506YBD0 | $690,786.69   |       | $11,532,764.00 |  | $517,130,516.27         | 
|200311                                     | A       | 12506YBD0 | $612,368.72   |       | $15,133,325.25 |  | $501,997,191.02         | 
|200312                                     | A       | 12506YBD0 | $634,904.43   |       | $19,678,152.99 |  | $482,319,038.03         | 
|                                           |         |           |               |       |                |  |                         |  |                 |  |           |  |  |  |                | 
|                                           |         |           |               |       |                |  | $4,639,950.29           |  | $74,752,961.97  |  |           |  | 
|200306                                     | B-1     | 12506YBH1 | $36,408.90    |       | $0.00          |  | $10,285,000.00          | 
|200307                                     | B-1     | 12506YBH1 | $38,011.65    |       | $0.00          |  | $10,285,000.00          | 
|200308                                     | B-1     | 12506YBH1 | $39,854.38    |       | $101.68        |  | $10,284,898.32          | 
|200309                                     | B-1     | 12506YBH1 | $39,942.55    |       | $0.00          |  | $10,284,898.32          | 
|200310                                     | B-1     | 12506YBH1 | $41,322.44    |       | $0.00          |  | $10,284,898.32          | 
|200311                                     | B-1     | 12506YBH1 | $37,448.46    |       | $0.00          |  | $10,284,898.32          | 
|200312                                     | B-1     | 12506YBH1 | $40,020.04    |       | $0.00          |  | $10,284,898.32          | 
|                                           |         |           |               |       |                |  |                         |  |                 |  |           |  |  |  |                | 
|                                           |         |           |               |       |                |  | $273,008.42             |  | $101.68         |  |           |  | 
|200306                                     | B-2     | 12506YBJ7 | $29,978.91    |       | $0.00          |  | $7,884,000.00           | 
|200307                                     | B-2     | 12506YBJ7 | $31,437.45    |       | $0.00          |  | $7,884,000.00           | 
|200308                                     | B-2     | 12506YBJ7 | $32,926.65    |       | $77.94         |  | $7,883,922.06           | 
|200309                                     | B-2     | 12506YBJ7 | $32,994.21    |       | $0.00          |  | $7,883,922.06           | 
|200310                                     | B-2     | 12506YBJ7 | $34,128.62    |       | $0.00          |  | $7,883,922.06           | 
|200311                                     | B-2     | 12506YBJ7 | $30,929.06    |       | $0.00          |  | $7,883,922.06           | 
|200312                                     | B-2     | 12506YBJ7 | $33,053.62    |       | $0.00          |  | $7,883,922.06           | 
|                                           |         |           |               |       |                |  |                         |  |                 |  |           |  |  |  |                | 
|                                           |         |           |               |       |                |  | $225,448.52             |  | $77.94          |  |           |  | 
|200306                                     | B-3     | 12506YBK4 | $33,895.49    |       | $0.00          |  | $8,914,000.00           | 
|200307                                     | B-3     | 12506YBK4 | $35,544.58    |       | $0.00          |  | $8,914,000.00           | 
|200308                                     | B-3     | 12506YBK4 | $37,228.33    |       | $88.12         |  | $8,913,911.88           | 
|200309                                     | B-3     | 12506YBK4 | $37,304.72    |       | $0.00          |  | $8,913,911.88           | 
|200310                                     | B-3     | 12506YBK4 | $38,587.33    |       | $0.00          |  | $8,913,911.88           | 
|200311                                     | B-3     | 12506YBK4 | $34,969.77    |       | $0.00          |  | $8,913,911.88           | 
|200312                                     | B-3     | 12506YBK4 | $37,371.89    |       | $0.00          |  | $8,913,911.88           | 
|                                           |         |           |               |       |                |  |                         |  |                 |  |           |  |  |  |                | 
|                                           |         |           |               |       |                |  | $254,902.11             |  | $88.12          |  |           |  | 
|200306                                     | M-1     | 12506YBE8 | $65,407.83    |       | $0.00          |  | $41,137,000.00          | 
|200307                                     | M-1     | 12506YBE8 | $62,905.33    |       | $0.00          |  | $41,137,000.00          | 
|200308                                     | M-1     | 12506YBE8 | $67,304.70    |       | $406.68        |  | $41,136,593.32          | 
|200309                                     | M-1     | 12506YBE8 | $67,658.27    |       | $0.00          |  | $41,136,593.32          | 
|200310                                     | M-1     | 12506YBE8 | $70,206.45    |       | $0.00          |  | $41,136,593.32          | 
|200311                                     | M-1     | 12506YBE8 | $63,624.60    |       | $0.00          |  | $41,136,593.32          | 
|200312                                     | M-1     | 12506YBE8 | $67,968.22    |       | $0.00          |  | $41,136,593.32          | 
|                                           |         |           |               |       |                |  |                         |  |                 |  |           |  |  |  |                | 
|                                           |         |           |               |       |                |  | $465,075.40             |  | $406.68         |  |           |  | 
|200306                                     | M-2     | 12506YBF5 | $91,069.65    |       | $0.00          |  | $37,710,000.00          | 
|200307                                     | M-2     | 12506YBF5 | $92,232.38    |       | $0.00          |  | $37,710,000.00          | 
|200308                                     | M-2     | 12506YBF5 | $97,417.50    |       | $372.81        |  | $37,709,627.20          | 
|200309                                     | M-2     | 12506YBF5 | $97,741.26    |       | $0.00          |  | $37,709,627.20          | 
|200310                                     | M-2     | 12506YBF5 | $101,229.40   |       | $0.00          |  | $37,709,627.20          | 
|200311                                     | M-2     | 12506YBF5 | $91,739.14    |       | $0.00          |  | $37,709,627.20          | 
|200312                                     | M-2     | 12506YBF5 | $98,025.39    |       | $0.00          |  | $37,709,627.20          | 
|                                           |         |           |               |       |                |  |                         |  |                 |  |           |  |  |  |                | 
|                                           |         |           |               |       |                |  | $669,454.72             |  | $372.81         |  |           |  | 
|200306                                     | M-3     | 12506YBG3 | $31,674.72    |       | $0.00          |  | $11,998,000.00          | 
|200307                                     | M-3     | 12506YBG3 | $32,344.61    |       | $0.00          |  | $11,998,000.00          | 
|200308                                     | M-3     | 12506YBG3 | $34,094.32    |       | $118.61        |  | $11,997,881.39          | 
|200309                                     | M-3     | 12506YBG3 | $34,197.29    |       | $0.00          |  | $11,997,881.39          | 
|200310                                     | M-3     | 12506YBG3 | $35,407.08    |       | $0.00          |  | $11,997,881.39          | 
|200311                                     | M-3     | 12506YBG3 | $32,087.67    |       | $0.00          |  | $11,997,881.39          | 
|200312                                     | M-3     | 12506YBG3 | $34,287.70    |       | $0.00          |  | $11,997,881.39          | 
|                                           |         |           |               |       |                |  |                         |  |                 |  |           |  |  |  |                | 
|                                           |         |           |               |       |                |  | $234,093.39             |  | $118.61         |  |           |  | 
|200306                                     | P       | DC03M2102 | $37,984.46    |       | $100.00        |  | $0.00                   | 
|200307                                     | P       | DC03M2102 | $38,081.03    |       | $0.00          |  | $0.00                   | 
|200308                                     | P       | DC03M2102 | $0.00         |       | $0.00          |  | $0.00                   | 
|200309                                     | P       | DC03M2102 | $0.00         |       | $0.00          |  | $0.00                   | 
|200310                                     | P       | DC03M2102 | $390,019.99   |       | $0.00          |  | $0.00                   | 
|200311                                     | P       | DC03M2102 | $335,095.26   |       | $0.00          |  | $0.00                   | 
|200312                                     | P       | DC03M2102 | $419,907.94   |       | $0.00          |  | $0.00                   | 
|                                           |         |           |               |       |                |  |                         |  |                 |  |           |  |  |  |                | 
|                                           |         |           |               |       |                |  | $1,221,088.68           |  | $100.00         |  |           |  | 
|200306                                     | R       | DC03M2103 | $0.00         |       | $0.00          |  | $0.00                   | 
|200307                                     | R       | DC03M2103 | $0.00         |       | $0.00          |  | $0.00                   | 
|200308                                     | R       | DC03M2103 | $0.00         |       | $0.00          |  | $0.00                   | 
|200309                                     | R       | DC03M2103 | $0.00         |       | $0.00          |  | $0.00                   | 
|200310                                     | R       | DC03M2103 | $0.00         |       | $0.00          |  | $0.00                   | 
|200311                                     | R       | DC03M2103 | $0.00         |       | $0.00          |  | $0.00                   | 
|200312                                     | R       | DC03M2103 | $0.00         |       | $0.00          |  | $0.00                   | 
|                                           |         |           |               |       |                |  |                         |  |                 |  |           |  |  |  |                | 
|                                           |         |           |               |       |                |  | $0.00                   |  | $0.00           |  |           |  | 
|200306                                     | REMIC I | DC03M2LT1 | $3,373,207.66 |       | $3,002,624.56  |  | $682,624,597.38         | 
|200307                                     | REMIC I | DC03M2LT1 | $3,655,680.67 |       | $5,751,071.11  |  | $676,873,526.27         | 
|200308                                     | REMIC I | DC03M2LT1 | $3,890,835.46 |       | $7,418,244.21  |  | $669,455,282.06         | 
|200309                                     | REMIC I | DC03M2LT1 | $4,138,627.37 |       | $12,237,945.70 |  | $657,217,336.36         | 
|200310                                     | REMIC I | DC03M2LT1 | $4,452,276.32 |       | $11,532,764.00 |  | $645,684,572.36         | 
|200311                                     | REMIC I | DC03M2LT1 | $4,324,401.50 |       | $15,133,325.25 |  | $630,551,247.11         | 
|200312                                     | REMIC I | DC03M2LT1 | $4,313,163.54 |       | $19,678,152.99 |  | $610,873,094.12         | 
|                                           |         |           |               |       |                |  |                         |  |                 |  |           |  |  |  |                | 
|                                           |         |           |               |       |                |  | $28,148,192.51          |  | $74,754,127.82  |  |           |  | 
|200306                                     | X       | DC03M2101 | $2,348,955.02 |       | $0.00          |  | $10,627,221.94          | 
|200307                                     | X       | DC03M2101 | $2,685,635.24 |       | $0.00          |  | $10,627,221.94          | 
|200308                                     | X       | DC03M2101 | $2,897,373.25 |       | $0.00          |  | $10,627,221.94          | 
|200309                                     | X       | DC03M2101 | $3,148,756.03 |       | $0.00          |  | $10,627,221.94          | 
|200310                                     | X       | DC03M2101 | $3,050,588.33 |       | $0.00          |  | $10,627,221.94          | 
|200311                                     | X       | DC03M2101 | $3,086,138.82 |       | $0.00          |  | $10,627,221.94          | 
|200312                                     | X       | DC03M2101 | $2,943,286.31 |       | $0.00          |  | $10,627,221.94          | 
|                                           |         |           |               |       |                |  |                         |  |                 |  |           |  |  |  |                | 
|                                           |         |           |               |       |                |  | $20,160,733.00          |  | $0.00           |  |           |  | 
|                                           |         |           |               |       |                |  | $56,291,947.04          |  | $149,508,355.64 |  |           |  |